Eli Lilly’s newest oral obesity therapy, Foundayo, is showing early sales disappointment even as the company’s injectable tirzepatide franchises continue to surge. Lilly reported $98 million in second-quarter sales for Foundayo and kept focus on rapid growth in Mounjaro and Zepbound, driving a lift in full-year revenue guidance. Novo Nordisk, meanwhile, took the opposite investor hit after earnings, reflecting the widening competitive gap in cardiometabolic portfolios. Novo’s Wegovy pill posted second-quarter sales short of expectations, while injectables remain central to its obesity strategy as it simultaneously pushes next-generation candidates. Together, the quarter-by-quarter results underscore how quickly the market is recalibrating around oral and injectable incretin performance—and how trial readouts shape near-term capital allocation for obesity drug developers.